So, what Google is saying now is nothing new as webmasters until now have planned their search engine optimization strategies on the basis of these two signals. please visite here : http://www.brainpulse.com/articles/seo-sem/content-links-are-major-ranking-factors.php

Yes, both are very inportant. But I think that content plays more important role, because without a good content nobody will visit your resource. People want to see interesting, helpful and valuable content.

Both content and backlinks are essentials if you want to top googles search result, you need to be creative enough to produce engaging content. Backlinks works to target the users to go to your website. Nothing has changes we all know that these two things are important for a website to be on search engine.

Yes the content and the quality links are the two ranking factors in the google search results. Content quality will matter more on the quality links it will increases the website visibility on the search results.